Who: Chhattisgarh Government
What: Inked pact with central PSUs
When: 20 January 2016
Why: For railway project
The Chhattisgarh Government on 20 January 2016 signed a share-holding agreement with a few central government-run corporations for the second phase of Jagdalpur-Raoghat railway project.
A special purpose vehicle (SPV)-Chhattisgarh Dakshin Railway Pvt Ltd-was constituted through the agreement to build 142 km railway line at a cost of 2000 crore rupees.
The project aims at leading the economic development of tribal-dominated Bastar region.
Key highlights of the agreement
• National Mines Development Corporation will have 43 percent stake in the SPV
• IRCON, a Ministry of Railways company, will have 26 percent stake in the SPV.
• SAIL will have 21 percent and Chhattisgarh Mines Development Corporation will have 10 percent stake in the SPV.
• The work on the first phase of the project, which will connect Dalli-Rajhara with Raoghat, is already underway.
• The second phase will have 32 medium-size and 172 small bridges, 12 stations and will require 876 hectares of land.